Embracing The 'I' In Philanthropy

Many family businesses the world over are philanthropic and in giving are doing so for a myriad of reasons.

In my opinion, the word philanthropy is often quoted, sometimes misunderstood, and in m,any cases fails to understand the real 'driving force' behind the generosity.

In some cases advisers have taken over the word and it has become overtly commercial, driven by a business model and to that extent, is in danger in some instances, of diminishing the value of the giving in the first place.

For many family businesses, there are reasons associated with legacy, values, community involvement, securing a role for the next generation, loyalty and stakeholder cohesion behind their giving.

This insight puts the essence of philanthropy back on the agenda, where it is openly spoken about, and with family foundations another 'current' topic of discussion, highlights the motivations of families, and in many cases, their desired outcomes from their philanthropic endeavours.

Altruistic or not, family businesses and their generosity have a significant impact globally and this needs to be recognised and celebrated at the same time.

A great article.

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Over the last decade or so, there has been a movement to treat philanthropy more like business. Under this "new philanthropy" rubric, giving money to good causes is considered successful to the extent that it produces a measurable impact on society. While some fantastic success stories have emerged from this approach, overall it has yet to gain much traction among the world's leading philanthropists, who still often equate giving with altruism. For many, the value of philanthropy is somehow diminished if it is motivated by anything other than unadulterated altruism: if it's not pure, it's not worth doing.